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SBLI life insurance review 2020

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This low-cost insurer offers accelerated underwriting for eligible applicants — but its lineup is limited.'s rating: 4 / 5


  • Get a quote if… You’re looking for a simple term, whole or no-exam policy
  • Choose a different provider if… You want to apply for a permanent policy besides whole life

18 to 60

Issue Age

$100,000 to $20,000,000


Not required for policies under $500,000

Medical Exam Required


Free quote Online, Phone
Monthly cost As low as $11 per month
Policies Term, Whole, Final expense, Guaranteed issue
Coverage maximum $20,000,000
Term lengths 10, 15, 20, 25, 30 years
Riders Accelerated death benefit rider, Accidental death benefit rider, Child rider, Guaranteed insurability rider, Term insurance rider, Waiver-of-premium rider
Medical exam required Not required for policies under $500,000
Available states Not available in New York and Montana.
Issue age 18 - 60 years old

Expert review

Julia Cameron

Review by

Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.

Expert review

If you’re looking for no-nonsense term or whole life plans, consider SBLI. The insurer offers competitive rates and accelerated underwriting for some applicants who want to skip the medical exam. But if you’re in less-than-perfect health, you might be able to find better life insurance rates elsewhere.

Best of 2020
Finder experts pick SBLI as a 2020 best brand for life insurance.

What types of life insurance coverage does SBLI offer?

SBLI has a tight lineup of term, whole and no-exam policies.

  • Term life insurance. This policy is available in 10-, 15-, 20-, 25- or 30-year terms and in coverage amounts between $100,000 to $500,000. It comes with a conversion feature, which means you can upgrade to a permanent policy before a specific deadline.
  • Whole life insurance. SBLI’s whole life policy offers lifelong coverage and builds cash value over time at a fixed rate. The insurer offers a range of payment structures to suit policyholders’ budgets. You can pay level premiums for the life of the policy, or choose to pay your policy upfront or over the course of 10, 15 or 20 years.
  • Final expense insurance. This type of whole life policy is available for applicants between 50 and 80 years old, and never expires. It provides a lump-sum payment of up to $35,000 to your beneficiaries that can be used for funeral services, credit card debt, medical bills or any way your beneficiary chooses.
  • Accelerated underwriting. Open to those aged 60 or under, this policy offers up to $500,000 in term or whole life coverage — and most applicants are approved within a week.

What riders can I add to my life insurance policy?

Like most insurers, SBLI allows policyholders to personalize their coverage with riders. You might be eligible to add these extras to your policy:

  • Accidental death benefit rider. Pays out your death benefit and an additional face amount if you die as the result of an accident.
  • Accelerated death benefit rider. Pays up to half of your base death benefit up to $250,000 if you’re diagnosed with a terminal illness.
  • Child rider. Extends coverage to your children up to age 23, with the ability to convert to a permanent policy.
  • Guaranteed insurability rider. Allows you to purchase additional insurance at specified dates without having to take a medical exam.
  • Term insurance rider. Allows you to add additional coverage to your permanent policy for a specified amount of time.
  • Waiver-of-premium rider. Waives your policy premiums if you become disabled.

How much does SBLI cost?

SBLI doesn’t disclose its rates online. But to give you an idea of how much you might pay for coverage, these are the average monthly premiums for a $500,000, 20-year term life insurance policy for an individual in perfect health. The rates are provided by Quotacy and are valid as of April 2019 in all states except New York and Montana.

Age Male Female
20 $20.88 $18.71
25 $20.88 $18.71
30 $21.32 $19.14
35 $25.91 $21.58
40 $36.92 $29.67
45 $59.93 $44.98
50 $96.06 $65.87
55 $157.74 $97.23
60 $286.85 $173.03

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Compare quotes for life insurance policies starting at $15/month.
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Pros and cons of SBLI


  • No-exam policies available. If you’re under 60, you can apply for a no-exam policy and expect approval within a week.
  • Online policy management. You can update your personal details online, and your beneficiaries can file a claim online when the time comes.
  • Potential to earn dividends. SBLI is a mutual company, so permanent policyholders are eligible to earn dividends on its profits.
  • Financial strength. The insurer has an A- (Excellent) rating with AM Best, which means it has the cash reserves to pay out claims.


  • Not available nationwide. SBLI’s policies aren’t open to residents of New York.
  • Can only apply for term policies online. If you’d like to apply for a whole life policy, you’ll have to give SBLI a call.

Compare life insurance companies like SBLI

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 75 years old
10, 15, 20, 30 years
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
18 - 75 years old
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
18 - 80 years old
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
20 - 85 years old
10, 15, 20, 25, 30, 35 years
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.

Compare up to 4 providers

SBLI review and complaints

SBLI is accredited with the Better Business Bureau (BBB), and has an A+ rating for its customer engagement. The BBB has only recorded four complaints in the last three years, which is low for an insurance company of that size.

On TrustPilot, SBLI has 4 out of 5 stars, with many customers commenting on the efficient and personalized service. Some complained about billing issues and slower turnaround times.

How do I sign up?

You can get a quote or apply for term life insurance online.

  1. Head to SBLI’s site and click Get your quote.
  2. Enter your personal information as well as how much coverage you’d like and your desired length of term. Then click Calculate your quote.
  3. You’ll then be presented with a quote. From there you can wait for a representative to call you, or you can click Start your application to begin the application process.
  4. If you choose to continue the application process online, next you’ll be asked to provide further personal information, including your driving history, smoking habits (if any) and any dangerous hobbies. Then click Next to enter your health info.
  5. Answer the health questions and click Next to submit your application.

I’ve signed up. What happens next?

An SBLI life insurance professional will contact you within one business day to get further information, or you can give them a call at 888-630-5000. Your quote may change based on the additional information your provide. Once you’re approved, you can sign up at, where you can report a claim, download forms, make a payment and more.

How do I file a life insurance claim with SBLI?

You can start the process of filing a claim with SBLI online. Simply click Support in the top toolbar and then File a Claim.

You’re taken to MySBLI, where you’ll complete a four-step life and annuity death claims form that requires:

  • The policy’s full name, contact information and account details.
  • Names and contact information for all beneficiaries.
  • Information about the death or from the official death certificate.

You’ll also need to submit a certified copy of the death certificate and any supporting documentation.

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology here.

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